both parties in both chambers are working on that, and president obama said if they can't come up with a comprehensive long-term plan over the next several weeks before the sequester takes effect on march 1st they should at least get something smaller. here's the president at the white house today. >> congress is already working towards a budget that would permanently replace the sequester. at the very least we should give them the chance to come up with this budget instead of making indiscriminate cuts now that will cost us jobs and significantly slow down our recovery. >> now, of course, the biggest sticking point in trying to come up with this package, short term or long term, is whether it includes just spending cuts as republicans insist or includes tax revenues as well as spending cuts as the president repeated today he's in favor of, and, of course, the top item he cited in terms of tax loopholes to close is the carried interest loophole benefiting private exity executives and hedge fund managers and we'll see if he can make that stick and get revenue as part of this new deal. >